G-20 to seek agreement on int'l tax rules on IT giants by 2020

Finance chiefs from the Group of 20 major economies will approve in early June a plan to create global tax rules covering digital giants, including Google LLC and Facebook Inc., based more on where they make their sales rather than where their permanent offices are located, Japanese officials said Friday.The G-20 finance ministers and central bank governors will endorse a plan to be submitted by the Organization for Economic Cooperation and Development, which seeks an agreement by the end of 2020 on the new tax scheme, when they meet in the city of Fukuoka for a two-day meeting from June 8.…READ FULL ARTICLE